CGN Advisors LLC Reduces Stock Holdings in Nucor Corporation $NUE

by · The Markets Daily

CGN Advisors LLC lowered its holdings in Nucor Corporation (NYSE:NUE – Free Report) by 23.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,864 shares of the basic materials company’s stock after selling 2,451 shares during the quarter. CGN Advisors LLC’s holdings in Nucor were worth $1,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after buying an additional 568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Nucor during the first quarter valued at approximately $259,000. Geneos Wealth Management Inc. lifted its holdings in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC acquired a new position in Nucor in the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC boosted its position in Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after purchasing an additional 13,877 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Randy J. Spicer sold 2,500 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the transaction, the executive vice president directly owned 20,510 shares in the company, valued at $4,614,750. This trade represents a 10.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 21,028 shares of company stock valued at $5,355,535. 0.62% of the stock is currently owned by company insiders.

Nucor Price Performance

Nucor stock opened at $274.52 on Thursday. The company has a fifty day simple moving average of $244.76 and a 200-day simple moving average of $209.68. The firm has a market capitalization of $62.52 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 0.61 and a beta of 1.89. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11.

Nucor (NYSE:NUE – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period last year, the firm posted $2.60 earnings per share. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities analysts anticipate that Nucor Corporation will post 18.02 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

Wall Street Analyst Weigh In

NUE has been the topic of a number of analyst reports. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Bank of America lowered their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Wells Fargo & Company lifted their price objective on shares of Nucor from $283.00 to $297.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. CICC Research started coverage on shares of Nucor in a research note on Monday, May 25th. They set an “outperform” rating on the stock. Finally, Weiss Ratings upgraded Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $273.31.

View Our Latest Analysis on NUE

Nucor Profile

(Free Report)

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.

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